"By establishing a clear regulatory framework for innovators building on the new frontier of finance, we can foster responsible innovation at home."
"The CFTC is also intensifying oversight of prediction markets, asserting authority despite opposition from states citing local gaming laws."
"The agreement made it clear they have a commitment to support innovation, protect investors, and reduce duplicative or conflicting rules that previously created a 'turf war' between the agencies."
"Most digital assets - including stablecoins, digital commodities, and collectibles - are not securities, introducing a formal 'token taxonomy' while reserving traditional securities laws only for blockchain-based assets resembling equities or debt."
The Commodity Futures Trading Commission has established an Innovation Task Force to develop regulatory frameworks for emerging technologies in U.S. derivatives markets. The task force will focus on areas such as crypto assets, blockchain, artificial intelligence, and prediction markets. CFTC Chairman Michael S. Selig emphasized the importance of fostering responsible innovation. The task force will work alongside the SEC and its Crypto Task Force, aiming to enhance collaboration and clarify jurisdictional boundaries. The initiative also seeks to intensify oversight of prediction markets amid local gaming law challenges.
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